XAUUSD price is expected to be affected by the employment data on Friday.

XAU/USD, December 1, 2022
Current Price: $1776

Trend direction: UP

XXX/USD	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
WEEKLY	1900	1874	1833	1730	1700	1670

• EVENT: U.S. NON-FARM PAYROLLS AND UNEMPLOYMENT DATA WILL BE RELEASED ON FRIDAY: (DECEMBER 2, FRIDAY): It is expected that the non-farm employment data, which will be announced on Friday, will increase by 200 thousand and the unemployment rate will remain unchanged at 3.7 percent. Global markets will be focusing on U.S. data as of Wednesday. ADP employment in the USA and the U.S. third quarter growth data were followed today. At the same time, the speech of Fed Chairman Powell at 21:30 PM is eagerly awaited. The messages about the interest rate before the last FOMC meeting of the year, which will be held two weeks later, will be important. On the last trading day of the week, the activity in the markets is expected to increase due to the non-farm payrolls and unemployment rate data to be announced in the USA. A rising unemployment rate in the USA or a slowdown in non-farm payrolls may reduce the possibility of an interest rate hike and cause a depreciation in the dollar index and thus a change in the perception of a safe haven.
• ADP EMPLOYMENT CHANGE DATA WAS FOLLOWED BEFORE THE NON-FARM PAYROLLS DATA TO BE RELEASED IN THE U.S. ON FRIDAY:   In the U.S., employment growth in the private sector slowed sharply in November. According to the data of the ADP Research Institute, private sector employment in the country increased by 127 thousand. This was the slowest increase since January 2021. ADP Senior Economist Nela Richardson said: "The data released show that the Fed's tightening has an impact on job creation and wage increases. Fewer employees are quitting and the post-pandemic recovery is stabilizing." While weak data compared to the 200 thousand increase expectation cause a slowdown in the dollar index, it may increase the demand for gold with the perception of a safe haven. Position should be taken according to the data to be announced on Friday.
• U.S. GROWTH DATA HAS BEEN ANNOUNCED: Again, according to the data released today, the third quarter growth figure of the U.S. economy was revised from 2.6 percent to 2.9 percent despite inflation. The PCE price index, excluding food and energy, was also revised year-on-year from 4.5 percent to 4.6 percent. If the rise in the GDP ratio, which was announced before the final data, causes the Fed's rhetoric to falter, this may put pressure on gold prices. However, Powell's speech tonight and data coming Friday should be watched carefully to find out if that possibility will materialize.
   

XAU/USD weekly uptrend opportunity based On 1.00 Lot Calculation:

XAU/USD

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	12500	9900	5800	-4500	-7500	-10500
Profit or loss in €	12010	9510	5570	-4320	-7200	-10900
Profit or loss in £	10350	8200	4800	-3725	-6210	-8700

• Calculations for exchange rate used as of 09:20 (GMT+1) 01/12/2022
• 1.00 lot is equivalent of 100 Ounce

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